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Top 5 Bakken stories of the week

Just in case you missed them, here are the top headlines from Bakken.com for the week of November 8th through the 14th. Have a great weekend!

5. Obama’s Keystone XL decision irks North Dakota US lawmakers

President Barack Obama speaks in front of pipe stacked for use in the Transcanada Keystone XL pipeline. (Image: Matt Wansley via Flickr)

BISMARCK, N.D. — Members of North Dakota’s congressional delegation say President Barack Obama’s rejection of the Keystone XL pipeline is disappointing.

Obama says he’s rejecting the pipeline because he does not believe it serves the national interest.

Republican Sen. John Hoeven and Democratic Sen. Heidi Heitkamp both think the decision is political. Republican Rep. Kevin Cramer says Obama’s decision is “anti-growth, anti-American jobs.”

To read the full article, click here.

4. Distressed Eagle Ford, Bakken asset sales seen soon – Anadarko CEO

REUTERS/Nick Oxford

REUTERS/Nick Oxford

HOUSTON – Financial distress is soon expected to trigger long-awaited sales of oil and gas properties in North Dakota’s Bakken and Texas’ Eagle Ford basin, the chief executive of Anadarko Petroleum Corp said on Tuesday.

A prolonged downturn in crude oil prices has generated lots of chatter that companies laboring under heavy debt that operate shale fields with high break-even costs will have to sell assets to generate much-needed cash.

As low crude oil prices linger for more than a year, distress is intensifying and may finally bring some of those properties to market.

To read the full article, click here.

3. Crews cleaning up after train derails in Watertown, spilling crude oil

Train cars lie overturned outside of Alma, Wis. after derailing on Saturday, Nov. 7, 2015. BNSF Railway said multiple tanker cars leaked ethanol into the Mississippi River on Saturday. (Aaron Lavinsky/Star Tribune via AP)

Train cars lie overturned outside of Alma, Wis. after derailing on Saturday, Nov. 7, 2015. BNSF Railway said multiple tanker cars leaked ethanol into the Mississippi River on Saturday. (Aaron Lavinsky/Star Tribune via AP)

The Federal Railroad Administration has sent in six staff members to investigate the cause of Sunday’s train derailment in Watertown, which resulted in a spill of crude oil and evacuation of 35 homes.

But as of Monday morning, authorities were not sure what caused the 110-car Canadian Pacific train to derail around 2 p.m., nor could they say when local residents might return to their homes. Officials said they plan to meet again at 6 p.m. to discuss progress on the cleanup and investigation and to determine whether it is safe for residents to return.

To read the full article, click here.

2. Williston jobs still plentiful, becoming more specialized

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Although activity in North Dakota’s Bakken oil patch has slowed dramatically from the frantic activity just a year ago, hiring is still going strong, but it’s becoming more specialized.

As reported by The Bakken Magazine, the area surrounding Williston, North Dakota, a community in the oil patch core, is still dealing with a shortage of workers ranging from truck drivers to teachers.

Cindy Sanford, customer service office manager for Job Service North Dakota in Williston, told The Magazine, “We’re still catching up. We don’t have enough people [with skills in specific areas].” For example, she said, there is currently a shortage of diesel technicians, a field in which entry-level jobs can pay up to $25 per hour with the addition of weekly overtime.

To read the full article, click here.

1. Obama rejects Canada-to-U.S. Keystone pipeline

U.S. President Barack Obama, flanked by Vice President Joe Biden (L) and Secretary of State John Kerry (R), delivers a statement on the Keystone XL pipeline, at the White House in Washington November 6, 2015. REUTERS/Jonathan Ernst

U.S. President Barack Obama, flanked by Vice President Joe Biden (L) and Secretary of State John Kerry (R), delivers a statement on the Keystone XL pipeline, at the White House in Washington November 6, 2015. REUTERS/Jonathan Ernst

WASHINGTON – U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who have campaigned against the project for more than seven years.

“The pipeline would not make a meaningful long-term contribution to our economy,” Obama told a press conference. He said Keystone XL would not reduce gasoline prices for drivers, and that shipping “dirtier” crude from Canada would not increase U.S. energy security.

The denial of TransCanada Corp’s more than 800,000 barrels per day project will make it more difficult for producers to develop the province of Alberta’s oil sands. It could also put the United States in a stronger position for global climate talks in Paris that start on Nov. 30 in which countries will aim to reach a deal to slow global warming.

To read the full article, click here.